CX Institutional Sells 9,255 Shares of JPMorgan Chase & Co. $JPM

CX Institutional cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 23.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 29,458 shares of the financial services provider’s stock after selling 9,255 shares during the period. CX Institutional’s holdings in JPMorgan Chase & Co. were worth $9,642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $11,396,496,000. Bank of America Corp DE lifted its position in JPMorgan Chase & Co. by 15.8% in the 1st quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock valued at $19,314,681,000 after acquiring an additional 8,941,351 shares in the last quarter. Cardano Risk Management B.V. boosted its stake in JPMorgan Chase & Co. by 889.3% during the 4th quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock valued at $2,794,785,000 after purchasing an additional 7,796,814 shares during the last quarter. American Assets Investment Management LLC boosted its stake in JPMorgan Chase & Co. by 1,172.2% during the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock valued at $728,024,000 after purchasing an additional 2,081,800 shares during the last quarter. Finally, Viking Global Investors LP increased its holdings in shares of JPMorgan Chase & Co. by 86.1% in the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock worth $1,171,826,000 after purchasing an additional 1,870,386 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares in the company, valued at $13,940,935.56. This represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on JPM. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Evercore reiterated an “outperform” rating and issued a $360.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Morgan Stanley reissued a “positive” rating and issued a $370.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Finally, UBS Group upped their target price on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $359.33.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $352.60 on Tuesday. The firm has a market capitalization of $944.79 billion, a P/E ratio of 15.11, a PEG ratio of 1.45 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $359.30. The business has a fifty day moving average of $329.73 and a 200 day moving average of $312.08.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. The company had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.JPMorgan Chase & Co.’s revenue was up 27.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 24.27 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 6th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.71%.

JPMorgan Chase & Co. News Summary

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan announced plans to deploy more than $750 billion through 2035 through its American Dream Initiative—nearly 40% more housing capital than during the prior decade. The program targets financing for 1 million affordable housing units and assistance for 500,000 homebuyers, including 200,000 first-time buyers. JPMorganChase Doubles Down on Housing
• Positive Sentiment: The bank plans to increase mortgage lending by more than 40% and hire 850 Home Lending Advisors. Investors may view the expansion as a meaningful growth opportunity if housing supply improves and demand for mortgages, refinancing and affordable-housing finance strengthens. JPMorgan Stock Rises as Housing Plan Unfolds
• Positive Sentiment: Financial stocks advanced broadly, with the NYSE Financial Index rising 0.6%, providing a favorable sector backdrop for JPM. The move follows JPMorgan’s recent strong quarterly results, which exceeded analyst expectations for earnings and revenue. Sector Update: Financial Stocks Advance Late Afternoon
• Neutral Sentiment: JPMorgan economists reportedly brought forward their expectation for a possible year-end Federal Reserve rate increase, citing concerns about Fed credibility. Higher rates could support interest income but also pressure loan demand, bond values and credit quality. JPMorgan Rate Forecast
• Negative Sentiment: Commentary on the housing push warns that the large lending pipeline must pass a profitability test. The scale of the commitment could expose JPMorgan to margin pressure, housing-cycle risk and higher credit losses if returns do not justify the additional capital deployment. JPMorgan Makes Massive Push Into American Housing

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.